Tag: Nigeria

Coca-Cola HBC sees tepid growth in nine months

BUSINESS
Coca-Cola HBC, the parent company of the Nigerian Bottling Company (NBC), with operations in 27 other European countries, said it posted a 2.6% revenue growth in the third quarter of 2018 to €1.87bn and 1.2% sales rise in nine months to €5.09bn. The company said that the growth was driven by a 4.2% volume growth in Q3 and 4.4% rise in volumes in the nine months across its geographic segments, with the strongest growth coming from developing markets, where it recorded 11.3% volume growth in the third quarter and 9.8% volume rise in nine months. The growth in developing markets was driven by strong performance in Poland, helped by good summer weather and favourable macroeconomic environment. Other factors include double-digit growth of sparkling in all brands, as well as water. Net sales in

Nigerian Breweries, FRSC Hold Mega Rally on “Don’t Drink and Drive” Campaign in Lagos

BUSINESS
Following the successful mega rally of the 11th edition of the Don’t Drink and Drive campaign in Uyo, Akwa Ibom State, Nigerian Breweries and the Federal Road Safety Corps (FRSC) held another mega rally on road safety in Lagos, as part of efforts aimed at ensuring reduction in road accidents. The Lagos event, the second of the three mega rallies scheduled for this year’s campaign was held at the Ojota New Garage in Lagos on Thursday, November 8, 2018. The Managing Director of Nigerian Breweries Plc, Mr. Jordi Borrut Bel said the campaign is an important part of the company’s long-term sustainability agenda, tagged “Brewing a Better World” and falls under advocating responsible consumption. Borrut Bel stated that since inception of the campaign in 2008, enlightenment rallies have been held

XLR8 emerges winner of International Breweries Plc Public Relations Account

BUSINESS
International Breweries Plc, the Nigerian subsidiary of AB InBev, the world’s largest brewer has appointed leading communications consultancy, XLR8 to manage its public relations. The appointment which is sequel to a competitive bid, will see XLR8 taking responsibility for all of the company’s corporate as well as brand-related communications. International Breweries is home to celebrated global brands like Budweiser, Castle, Castle Lite and a host of rave-making Nigerian brands like Hero, Trophy, Beta Malt, Grand Malt and many more. Last August, it formally commissioned its fourth brewery in Nigeria, the $250million Gateway Brewery Sagamu, which holds the record as the biggest brewery in Nigeria and across West Africa. Its other breweries are located in Ilesa, Onitsha and Port Harcourt. A

Coke to launch Energy drinks under its name

BUSINESS
The Coca-Cola Company (TCCC) announced on Thursday it plans to launch its own Energy drinks under its trademark name. In an e-mail statement, the soft drinks giant said the new drinks would be called “Coca-Cola Energy” and “Coca-Cola Energy No Sugar.” The company has not said when the drinks would become available in the market. The announcement signals yet another move by the soft drinks maker to diversify away from its mainstay sugary drinks. The new drinks would likely have caffeine from naturally-derived sources and Guarana extract, the company said. Coca-Cola said it is currently in arbitration with Energy drinks maker, Monster Beverage, in which it holds a 16.75% stake, over its plans to start making Energy drinks. Coca-Cola up until now has been marketing the Monster Energy brand wo

International Breweries appoints Andrew Scott Murray as a Non-Executive Director

BUSINESS
International Breweries Plc (“IB Plc”) has announced the appointment of Mr. Andrew Scott Murray as a Non-Executive Director of the Company. According to a statement from the company, Mr. Murray is currently the Vice-President, Finance for AB InBev Africa, leading the finance function across the AB InBev Africa operations, based in Johannesburg, South Africa. Prior to that, he was the Global Director, AB InBev M&A based in New York with exceptional track record of handling transactions and corporate disposals of different description and magnitude. He was also part of the AB InBev’s focused group on Budgeting and Business Performance Optimization. Before joining AB InBev in 2013, Andrew worked at Bain & Company, a global management consulting firm for approximately 7 years. He holds

Coca-Cola, FG partner to launch N4bn safe birth initiative to tackle high infant mortality and maternal rates

BUSINESS
The Coca-Cola Company has partnered the Federal Government to launch an initiative worth N4bn to address the country’s high infant mortality and maternal rates. The initiative tagged ‘Safe Birth initiative’ (SBI), which is also done in conjunction with the Office of the Senior Special Assistant to the President on Sustainable Development Goals (SDGs) and Medshare International Inc, a non-Governmental organisation donated four units of 40’ foot shipping containers of life-saving medical equipment for the inaugural project to the National Hospital, Abuja. Speaking during the unveiling of the initiative, Coca-Cola President, West Africa Business Unit, Mr Peter Njonjo, said, the organization chose to join the fight against maternal and newborn deaths, so that mothers and babies could come home

Guinness promises extraordinary football experience as football great Rio Ferdinand visits Nigeria

BUSINESS
Guinness Nigeria Plc recently unveiled an exciting new partnership with legendary premier league footballer, Rio Ferdinand. The Manchester United defender will be visiting Nigeria from 30th November to 1st December to join Guinness’ efforts to find and celebrate Nigerian football fans that are Made of More. In anticipation of Rio’s visit, Guinness Nigeria will be running a promo to select winners to join Rio at a live international match in Cameroon. The promotion will be launched on 9th November 2018. You are welcome to participate by sending an SMS of the code under the crown of your Guinness Promotional Bottle to 1759. Commenting on Rio Ferdinand’s visit to Nigeria, Managing Director Guinness Nigeria, Baker Magunda, remarked: “Guinness is a bold beer for extraordinary people. So, we are

Champion Breweries reports profit decline in nine months amid disappointing sales

BUSINESS
Champion Breweries Plc reported a 21% drop in profits for the first nine months of 2018 to ₦120 million. In the same period in 2017, the company earned ₦152 million. The profit decline accelerated in the third quarter by 40% to ₦40 million, from ₦66 million in the previous year. The drop in earnings was attributed to disappointing sales despite higher selling and distribution expense. Net revenue declined by less than 1% in nine months to ₦3.2bn, but grew by 7.5% in the third quarter to ₦1.1bn. Selling and distribution expenses jumped 115% in nine months to ₦630 million, skyrocketing in the third quarter by 147% to ₦283 million. Champion Breweries is based in Uyo, Akwa Ibom State and produces its namesake lager, Champion Lager and Champ Malta. The company is an indirect subsidiary of Heine

Coca-Cola third quarter profit lifted by innovation, revenue growth management initiatives

BUSINESS
Coca-Cola on Tuesday reported its third quarter results for 2018, with the soda giant posting a profit growth of 30% to $1.9bn from $1.4bn in the previous year, and $5.6bn profit in the nine months to the end of September, a 39% increase. The company said that the profit growth was driven by continued innovation and revenue growth management initiatives within sparkling soft drinks, with double digit volume growth of Coca-Cola Zero sugar across all groups. In addition to sparkling soft drinks, the company said it saw strong performance for brands like fuze tea and smartwater. Coca-Cola also announced several strategic actions, including a number of acquisitions and investments, and continued to lift, shift and scale brands around the world. Speaking on the results, Coca-Cola President and ...
Guinness Nigeria appoints Ajogwu, Gallagher as Non-Executive Directors

Guinness Nigeria appoints Ajogwu, Gallagher as Non-Executive Directors

BUSINESS
Guinness Nigeria Plc has announced the appointment of Professor Fabian Ajogwu, SAN and Mr. Paul Gallagher to its Board as Non-Executive Directors. PROFILE OF PROFESSOR FABIAN AJOGWU SAN According to a statement released by the company, Fabian Ajogwu, a Senior Advocate of Nigeria, practices law at Kenna Partners; and is a Lagos Business School Professor of Corporate Governance. He is an Alumnus of the Said Business School of Oxford University, and an Alumnus of the Lagos Business School. He holds a Doctorate degree in Law from University of Aberdeen, Scotland; an MBA from the IESE Business School, Barcelona; and Law degrees from the University of Nigeria, and University of Lagos. The Learned Senior Advocate has been Lead Counsel to the Federal Government of Nigeria in several cases of natio...